Research On Productive Efficiency Of New Energy Vehicle Listed Companies Based On The Three-Stage DEA Model

As one of the emerging industries,new energy vehicle will face problems such as higher costs in the early stages of development,and relying on the company's own investment,it's development will be slow.So the government has formulated a variety of policies including fiscal subsidy,tax deduction and financial services to promote the development of new energy vehicles.With the support of industrial policies,China's new energy vehicles have developed rapidly.In 2018,China's new energy vehicle production and sales scale has exceeded one million units,ranking first in the world and new energy vehicle's technology has been made some progress.But at the same time,some problems have also arisen.For example,companies cheated subsidies and special funds were not implemented.In response to these problems,the government began to reduce financial subsidies.Industrial policies have a huge impact on an industry.If industrial policies have improperly implemented,it may cause enterprises to rely on industrial policies,which is not conducive to long-term healthy development of enterprises.The productive efficiency of an enterprise reflects the relationship between its productive inputs and outputs,and it reflects the enterprise's reasonable use of internal resources.An analysis of the production efficiency of an enterprise is conducive to providing a basis for the enterprise to optimize the use of resources and increase the enterprise's development.New energy vehicle companies are greatly affected by the related government policies,and the implementation of related policies affects their behavioral decisions.The government decided to reduce the incentives of related policies because of the problems in the implementation of industrial policies,but this may also have an adverse effect on enterprises in some aspects.This article sorts out related industrial policies,summarizes the implementation measures of related policies.This article selects three policy tools:fiscal subsidy,tax deduction and financial service support.Then this article uses a three-stage DEA model to calculate the initial productive efficiency of new energy vehicle listed companies and the productive efficiency under controlling the effects of these three policy tools and random factors.Based on the calculated productive efficiency,this article analyze the problems of these enterprises and give some related suggestions.The possible innovations of this article are as follows.First,the literature about the policy of new energy vehicle industry is mainly focused on analyzing the impact of fiscal subsidy and tax deduction,and the literature about other policy tools is less.This article not only focuses on the impact of financial subsidies and tax reductions,but also analyzes the impact of financial service support on new energy vehicle companies.Second,when the literatures measure new energy vehicles companies'efficiency,they often ignore the impact of related industrial policies on efficiency.Because of the government has begun to reduce related policy incentives,it is necessary to analyze new energy vehicle companies' problems when the related policy ends.This article uses a three-stage DEA model to analyze and control the effects of the three policy tools selected for fiscal subsidy,tax relief and financial service support.The calculated production efficiency can be used to analyze the situation of enterprises when these policy tools end.The research program of this paper are divided into the following parts:The first part is the introduction.This part mainly expounds the research background and research significance of this article,reviews the related literature,and clarifies the research framework,the research methods and possible innovations of this article.The second part summarizes China's new energy vehicles'status and related policies.The third part introduces the efficiency theory and the three-stage DEA model.The fourth part uses the three-stage DEA model to make an empirical analysis of the productive efficiency of new energy vehicles listed companies in China to get corresponding conclusions.The fifth part summarizes the main conclusions and give corresponding suggestions.The main conclusions of this article are as follows:First,in recent years,the productive efficiency of new energy vehicle listed companies in China is generally low.After decomposing technical efficiency into pure technical efficiency and scale efficiency,it is found that pure technical efficiency and scale efficiency can be increased.It shows that these two aspects have caused the low productive efficiency of new energy vehicles listed companies in China to some extent.Second,after comparing the differences of productive efficiency between new energy vehicle listed companies in China,we found that most of them have low productive efficiency.And the significant backward productive efficiency between these companies and high-efficiency companies is an important reason of the low productive efficiency mean value of new energy vehicles listed companies in China.Third,when considering the impact of policies and random factors,it is found that the reasons for the low production efficiency of new energy vehicles listed companies are mainly due to non-scale factors such as management and technology.When excluding the effects of the three selected policy tools and random factors,the main reason for the low production efficiency of enterprises lies in the size of these enterprises.Through the analysis of enterprise scale returns,it is found that after excluding the influence of policies and random factors,the reason for the low scale efficiency is the small production scale of these enterprises and the production scale of these enterprises should be expanded.Fourth,through the regression analysis of environmental variables,fiscal subsidy and financial service support of new energy vehicles will increase the redundancy of capital investment of new energy vehicle listed companies to some extent.And tax reduction policy tools will increase the redundancy of capital and labor input of new energy vehicle listed companies.